Colombo's Charitable Foundation

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Educate bowling green state university bgsu students by providing practical experience and knowledge in the field of real estate.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-5349311) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $20K a year · 5% of revenue · last 4 filings
A surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
99%
of spending
99% of spending went to programs.
Pt IX · Ln 25 · col B
1.4 mo
of spending, in cash
1.4 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $52K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$3.2M
98% of total assets
Liabilities are 98% of assets.
Pt X · Ln 26
Independent board members
4
of 4 voting members
4 of 4 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$469K
+7% vs prior year
Spent
$661K
To programs
99%
Net assets
$73K
By yearFY2021–FY2024
Revenue
$469K
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2021$329K
FY2022$439K
FY2023$440K
FY2024$469K
Expenses
$661K
FY2024▲ +63%
Tap a bar for its year
Expenses by fiscal year
FY2021$342K
FY2022$348K
FY2023$406K
FY2024$661K
Net assets
$73K
FY2024▼ -72%
Tap a bar for its year
Net assets by fiscal year
FY2021$140K
FY2022$232K
FY2023$266K
FY2024$73K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $660K Management & general 0% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary Treas
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Colombo's Charitable Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides students practical experience and knowledge in real estate.

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1 program · $660K · in their own filed words · FY2024
01

Encourage entrepreneurship creativity, self reliance, and a can do attitude among business and non-business bgsu students through exposure to real estate management. Promote an understanding and appreciation of entrepreneurship and entrepreneurial organizations.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-5349311) · Dispute this line
$660Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$52K
Grants paid · 2 grants · $60K · 2023–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$469K
Ln 12
Fees for servicesLn 2g$469K
Money outPt IX
$661K
Ln 25
Programscol B$660K
Managementcol C$1K
Owns and owesPt X
$73K
net assets · Ln 32
Cash and savingsLn 1–2$75K
Total assetsLn 16$3.2M
LiabilitiesLn 26$3.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$469K
Total revenueLn 12$469K
Assets in detailPt X, end of year
CashLn 1$75K
Cash and savings togetherLn 1–2$75K
Land, buildings, equipmentLn 10c$3.2M
Intangible assetsLn 14$3K
Total assetsLn 16$3.2M
LiabilitiesLn 26$3.2M
Net assetsLn 32$73K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$395K$75K
Land, buildings, equipmentLn 10c$2.7M$3.2M
Total assetsLn 16$3.1M$3.2M
LiabilitiesLn 26$2.8M$3.2M
Net assetsLn 32$266K$73K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$15K$15K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$13K$13K
Advertising and promotionLn 12$128$128
Office expensesLn 13$65$65
InterestLn 20$188K$188K
Depreciation, depletion and amortizationLn 22$74K$74K
InsuranceLn 23$42K$42K
Other expenses (24a–d)Ln 24$318K$318K
Total functional expensesLn 25$661K$660K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 14, 2025 $469K$661K−$192K$73K 990 PDF
FY2023Filed with the IRS Nov 1, 2024 $440K$406K$34K$266K 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $439K$348K$92K$232K 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $329K$342K−$12K$140K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2024 990
Part I · Summary $469,032 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $439,958$469,032
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $439,958$469,032
I-13 Grants and similar amounts paidPrior year $45,000$15,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $361,157$646,400
I-18 Total expensesPrior year $406,157$661,400
I-19 Revenue less expensesPrior year $33,801−$192,368
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $469,032 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $469,032$469,032
VIII-12 Total revenueRelated to mission $469,032 · Unrelated business $0 · Excluded from tax $0$469,032
Part IX · Statement of functional expenses $661,400 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $15,000$15,000
IX-11b Legal feesPrograms $10,193$10,193
IX-11c Accounting feesManagement $1,100$1,100
IX-11g Other fees for servicesPrograms $13,248$13,248
IX-12 Advertising and promotionPrograms $128$128
IX-13 Office expensesManagement $65$65
IX-20 InterestPrograms $187,931$187,931
IX-22 Depreciation, depletion and amortizationPrograms $73,716$73,716
IX-23 InsurancePrograms $42,349$42,349
IX-24 Other expenses (24a–d)Programs $317,670$317,670
IX-25 Total functional expensesPrograms $660,235 · Management $1,165 · Fundraising $0$661,400
Part X · Balance sheet $3,240,100 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $395,153$75,265
X-10c Land, buildings and equipment, netStart of year $2,704,226$3,161,461
X-14 Intangible assetsStart of year $3,775$3,374
X-16 Total assetsStart of year $3,103,154$3,240,100
X-17 Accounts payable and accrued expensesStart of year $16,009$28,102
X-23 Secured mortgages and notes payableStart of year $2,821,296$3,138,517
X-26 Total liabilitiesStart of year $2,837,305$3,166,619
X-31 Retained earnings or endowmentStart of year $265,849$73,481
X-32 Total net assets or fund balancesStart of year $265,849$73,481
X-33 Total liabilities and net assetsStart of year $3,103,154$3,240,100
Part XI · Reconciliation of net assets $73,481 net assets at year end
XI-1 Total revenue$469,032
XI-2 Total expenses$661,400
XI-3 Revenue less expenses−$192,368
XI-4 Net assets at start of year$265,849
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$73,481

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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